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Entity Choice?

Entity Choice?

This is one of the most common questions asked... and more commonly, the important question that was never asked! As a business owner, one of the most important decisions you will need to make as you start your company is which type of entity you should form. You have multiple options and each type of corporation carries it’s own set of legal and tax consequences.

Unfortunately, there are no pre-determined answers for which type of corporation you should select for your business. For example, just because a similar type of business is best suited as an LLC does not mean that your business should be an LLC (Limited Liability Company). Tax consequences could easily have you paying $6,800 or more just to the State of California annually!

This is a complex decision that should be discussed with a certified tax professional. It’s important to make sure you understand the possible tax and legal ramifications of the decision. Your desires, needs, and characteristics of your business including partners and long term goals are just a few of the factors when deciding on which type of corporation to select.

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